Animoca Brands continues its shopping spree with the acquisition of mobile developer MotoGP

One of Web3’s leading digital property rights developers, Animoca Brands, has announced a major new acquisition for its growing portfolio of gaming subsidiaries.

On Friday, the company announced the purchase of WePlay Media, which developed the popular blockchain game MotoGP Championship Quest. According to the agreement, the acquisition is an effort to boost user engagement in mobile motorsport games.

Graeme Warring, co-founder and chief operating officer of WePlay Media and co-creator of MotoGP, called the acquisition an exciting development for both parties as they expand their reach to motorcycle fans around the world.

“Animoca Brands has the ability to reach hundreds of millions of users in key growth demographics to expand the sport’s fan base and create engagement opportunities for riders, teams and sponsors.”

Similarly, Yat Siu, co-founder and executive chairman of Animoca Brands, pointed to the potential increase in engagement from the acquisition of MotoGP and other motorsport-related games under Animoca.

Related: Players Want Fun, Not a Token Festival – Animoca Subsidiary

According to the latest global MotoGP fan survey, their community has high levels of engagement and interest in regular participation in competitive mobile games. It reported that 79% of all respondents aged 16-24 engaged in competitive gaming on a weekly basis, with 54% of fans based in the Asia-Pacific region.

Animoca has shown great commitment to the development of the motorsport gaming industry by introducing a motorsport-based REVV token reward ecosystem and NFT programs into the MotoGP game.

Earlier in April this year, Animoca also acquired Eden Games, which developed the Gear.Club, Test Drive series and other popular racing games.

In August, Animoca subsidiary Grease Monkey Games received funding to develop the blockchain-based motorsport game Torque Drift 2.

This latest acquisition development comes after the success of Animoca’s $110 million funding round led by Temasek on September 8, from which he said he plans to make further strategic acquisitions. Animoca has invested in the Web3 space in operations such as The Sandbox, Axie Infinity, SkyMavis and DapperLabs, among others.

Casey J. Nelson